MetaMask is a well-known wallet for Ethereum-enabled distributed applications (dApps). But can MetaMask hold Bitcoin (BTC), which remains the largest cryptocurrency?
For many crypto investors, Bitcoin is an important part of their portfolio. Besides being an investment asset, Bitcoin can also be used as a payment method. Thanks to wallets such as MetaMask, paying via blockchain technology has become much easier. This Ethereum crypto wallet enables millions of investors to participate in everything the crypto market has to offer. Even though Ether (ETH) is a very popular means of payment, most people buy Bitcoin.
Related: How does Bitcoin work and why was BTC created?
However, Bitcoin is not the cryptocurrency you think of when you talk about buying a non-fungible token (NFT) or investing in decentralized finance (DeFi). Still, there may be situations where you would like to use Bitcoin for these actions. So in this article, you will learn how to store Bitcoin with the MetaMask!
MetaMask is an Ethereum wallet that is available as an app and as an extension in the web browser. In other words, MetaMask allows users to store their private keys and then securely use apps and websites with Ethereum-based DApps and smart contracts. One of the most popular crypto wallets, MetaMask recently passed the 30 million user mark in March 2022. This is due, in part, to the rise of decentralized finance (DeFi) and nonfungible tokens (NFTs).
MetaMask is only suitable for tokens that use the Ethereum blockchain, the so-called ERC-20 tokens. If you want to use other tokens (i.e., tokens that are not ERC-20 tokens), you will have to exchange them for ERC-20 tokens. It would then be possible to store these tokens in your MetaMask.
An example of
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